Ceva (NASDAQ:CEVA) Stock Rating Upgraded by Needham & Company LLC

Ceva (NASDAQ:CEVA) was upgraded by Needham & Company LLC to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Rosenblatt Securities boosted their price target on Ceva from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. TD Cowen lifted their target price on Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Oppenheimer upped their target price on Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on shares of Ceva in a report on Friday, May 8th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Ceva Trading Up 5.3%

NASDAQ:CEVA opened at $48.45 on Monday. The company has a market capitalization of $1.35 billion, a P/E ratio of -107.67 and a beta of 2.00. Ceva has a 12 month low of $17.02 and a 12 month high of $51.25. The firm has a fifty day simple moving average of $33.84 and a 200-day simple moving average of $25.66.

Ceva (NASDAQ:CEVA) last released its earnings results on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. Ceva had a negative return on equity of 3.42% and a negative net margin of 10.47%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Equities analysts forecast that Ceva will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Ceva

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in shares of Ceva by 1,287.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 355,418 shares of the semiconductor company’s stock valued at $9,387,000 after acquiring an additional 329,802 shares during the period. Intrinsic Edge Capital Management LLC raised its holdings in Ceva by 50.0% in the 3rd quarter. Intrinsic Edge Capital Management LLC now owns 329,896 shares of the semiconductor company’s stock worth $8,713,000 after purchasing an additional 110,000 shares during the period. DNB Asset Management AS boosted its position in Ceva by 71.5% during the third quarter. DNB Asset Management AS now owns 59,447 shares of the semiconductor company’s stock worth $1,570,000 after purchasing an additional 24,778 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its position in Ceva by 38.8% during the third quarter. Capitolis Liquid Global Markets LLC now owns 492,725 shares of the semiconductor company’s stock worth $13,013,000 after purchasing an additional 137,800 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in Ceva in the fourth quarter valued at approximately $603,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Ceva Company Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.